March 6, 2012, Hoku International announced they will layoff about 20 employees at their Pocatello, polysilicon plant.

This comes after many delays in finishing the factory, and threats by Idaho Power to cut off electricity because Hoku hasn’t been paying its utility bill.  Also, Hoku lost big money in 2011.

Officials with Hoku said the layoffs are necessary to keep the company going.

On February 23, 2012, Hoku International was notified that trading of its stocks were suspended, for violating NASDAQ’s Listing Rule 5250(c)(1).  On March 5 (the day before the layoff announcement) Hoku claimed they were now in compliance with NASDAQ’s rules.

CORPORATE INCOMPETENCE: HOKU MATERIALS BEGS FOR MONEY TO PAY ITS OVERDUE IDAHO POWER BILL